Watch YouTube’s Chief Business Development Officer Robert Kyncl’s CES 2016 speech here. For the latest authoritative marketing news, trends, and stats on social media stars and influencer marketing, subscribe to our industry digest newsletter!
In his CES 2016 keynote speech, YouTube’s Chief Business Officer Robert Kyncl presents both statistics and upcoming trends for both YouTube and the digital video industry. CES (Consumer Electronics Show) is an annual consumer electronics and technology tradeshow held in Vegas. While CES 2016 (January 6-9) featured everything from single-seater drone copters to smart fridges to 8K TVs, Kyncl’s keynote presents a critical, one-of-a-kind, forecast for marketers and brands complete with the latest YouTube trends and stats.
Read here to see the biggest YouTube trends from CES 2016 and what lies ahead for the digital video industry:
Kyncl notes that his previous 2012 CES prediction (by 2020, 90% of all internet traffic was going to be video traffic) will be reached one year ahead according to Cisco Systems.
Kyncl cites top YouTuber Michelle Phan‘s channel growth (up to 7 million from 2 million in a 4-year span) and $500 million brand-business success as evidence of top YouTube stars’ popularity with today’s audience. Kyncl also cites the ability of popular YouTubers (e.g. Lilly Singh and PewDiePie) to resonate and engage with audiences in a much more relevant way than traditional celebrities. He notes,
“For the second year in a row, the most popular entertainers amongst American high schoolers weren’t film actors or musicians, they were YouTube stars.”
According to a recent Nielsen study, TV viewership peaked in 2009. As a record, 600,000 people cut TV subscriptions in Q2 2015. Conversely, digital video continues to grow rapidly. When it comes to millennial viewing habits, Kyncl states that “[digital video] has now overtaken social media as their top online activity.”
At the present linear rate, only 60% of all video will be accessed by the internet in 2020. However, Kyncl believes digital video will grow at an exponential rate and therefore predicts that 75% of all video will be accessed online by 2020.
Kyncl points to four main trends spearheading the shift from TV to digital: 1) better mobile technology facilitating mobile video consumption, 2) YouTube’s “diversity” of user-generated content and original programming, 3) the marriage of music and digital video driving YouTube’s platform growth, and 4) digital video provides users a more immersive and interactive experience than TV.
As “the number one home for mobile video,” YouTube’s Chief Business Officer attributes the growth of this trend to improved mobile tech making it easier to share and consume videos online.
In contrast, TV consumption fell 9% in 2015 for the same demographic. For this age group, mobile video consumption contributed most to YouTube’s growth.
People now spend an average of 40 minutes each day watching YouTube on their mobile devices.
Kyncl likens the development and forthcoming growth of YouTube’s original programming to the start of cable. “As these networks [MTV, AMC, Food Network, CNN, ESPN] grew in size, they evolved to offer original content you couldn’t find anywhere else.”
With the growth of YouTube’s platform, artists both well-known and (previously) unknown are experiencing immense search visibility with more and more of their videos reaching 1 billion views.